The New Credit Rating Agencies in Town: Kroll Bond Rating Agency and Morningstar Credit Ratings

Author: Elizabeth Mason, Director & Lead Analyst

So, an ant and a spider walk into the credit rating agency market ... and there the joke ends, because this is serious business. Kroll Bond Rating Agency and Morningstar Credit Ratings are taking advantage of a market in transition, each making a play for its own piece of the market. Where Kroll is the spider openly spinning out in multiple directions, Morningstar is the ant focusing singularly on the task of grabbing market share in CMBS to start. This report puts a magnifying glass on these two companies and includes for each:
- Company background, target markets, and business models;
- Evolution and lessons learned;
- What makes each unique;
- Opportunities, threats, and competitive analysis;
- Essential actions for other players in or hoping to join the credit rating agency marketplace.